RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong

Government unveils 27 residential sites for sale

It can provide 15,200 flats.

The government announced the 2018-19 Land Sale Programme which has the capacity to provide for 27 residential sites that can house as much as 15,200 flats. 

According to a government press release, the programme can also provide for four commercial sites which can offer about 531,300 square meters of gross floor area and about 1,770 hotel rooms. 

Amongst the 27 residential sites, 15 are carried over from last year’s land sale programme as only an estimated 11 sites have been sold or put up for sale. 

Railway property development projects are expected to contribute to private housing land supply which can provide around 4,250 flats. The government earlier announced that over 4,000 subsidised flats will be put up for sale as part of the government's public housing programme priced between $1.59m to $6.3m.

The 2018-19 target for private housing land supply is 18,000 targets which is on track to meet the government’s housing supply target for the next ten years of 460,000 units.

Photo from WiNG - Own work, CC BY 3.0

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